5 Sacramento PDL Bills Crushed

Published: Fri, 08/03/18

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The following consumer loan Sacrammento Bills HAVE DIED! YEA!!

More details and commentary here: TheBusinessOflending

AB 3010: Sought to restrict people from taking out more than one payday loan at a time, and proposed creating a database requiring licensed lenders to record their loan transactions. .
AB 2953: Stop lenders from charging more than 36 percent on auto-title loans, also known as pink-slip loans.
AB 2500: Cap interest rates at 36 percent for installment loans between $2,500 and $5,000.
SB 365: Create a payday loan database.
SB 515: Extend the minimum length of a payday loan and require lenders to offer installment plans, as well as develop a database and cap loans at four per year per borrower.

Haven't launched your consumer loan business yet? "The Business of Lending Money to the Masses."

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